UK asset finance house Liberty Leasing has
enjoyed continued growth in the last seven months after a record
year in 2010.
The Southampton-based funder recorded pre-tax
profit of £712,783 for the year to 31 December 2010, a 51% increase
on 2009.
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Steady growth in the company’s loan book over
2010 continued into 2011 with an 11.7% increase for the first seven
months to 31 July 2011 to £29.4m.
Liberty Leasing’s loan book has grown 35% in
the 19 months since January 2010.
Paul Sheedy, Liberty’s sales and operations
director, said the company’s growth was due in part to the gap in
the market left by a decline in bank lending, a gap which has
allowed Liberty to increase its customer base.
Liberty provides funding for assets including
cars, commercial vehicles and manufacturing equipment to customers
including SMEs, start-ups, sole traders and wealthy
individuals.
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By GlobalDataSheedy said another reason for Liberty’s
success was its personal approach to each deal.
Liberty, he said, prides itself on a
traditional approach to doing business where someone from the
company will always visit a prospective customer and assess the
asset in question.
Sheedy said although the site visits can be
time consuming, it gives Liberty a more reliable snapshot of a
business than if the assessment is done from their office.
Sheedy added: “We have good relationships with
our clients and good relationships with our introducers.
“People like to deal with people and that has
helped to us to retain custom and expand our client base.”
grant.collinson@vrlfinancialnews.com
